Greece has received the necessary backing for it to enable a debt swap, allowing it to gain its second bailout. The BBC reports that £143.7 billion worth of debt will be affected – with investors taking a total loss of up to 74%.
The news that Greece will receive the second bailout package, and ahead of US nonfarm payroll data, has caused Tokyo stocks to reach a seven month high, writes Reuters.
Chinese inflation eased to the slowest pace in nearly two years, with consumer prices up 3.2% in February on a year earlier, according to Bloomberg.
Rupert Murdoch’s BSkyB has come under further scrutiny in the wake of the phone hacking scandal. A team assembled by Ofcom are investigating whether or not the company should be allowed to hold a broadcasting licence, says the FT.